I really only got an allowance when we had a summer holiday. It wasn't really a choice of my parents. We were just poor. The summer holiday allowance took her a year to save up. If we wanted money we had to earn it. My brother had a paper round aged 8. I think my sister and I were 11 when we got ours.
It would have been good to have a small allowance in order to learn the value of money and how to save better. When I first got a proper job, I was very bad with money. I'm better now but I had to learn and it would have been easier to learn at a younger age.
I don't think there's a set age for cutting off an allowance but I think it should have a greater component of it being "earned" as time goes by.
At what age is too old for an allowance?
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I really only got an allowance when we had a summer holiday. It wasn't really a choice of my parents. We were just poor. The summer holiday allowance took her a year to save up. If we wanted money we had to earn it. My brother had a paper round aged 8. I think my sister and I were 11 when we got ours.
It would have been good to have a small allowance in order to learn the value of money and how to save better. When I first got a proper job, I was very bad with money. I'm better now but I had to learn and it would have been easier to learn at a younger age.
I don't think there's a set age for cutting off an allowance but I think it should have a greater component of it being "earned" as time goes by.